11/23/2011 @ 6:00PM

Africa's Richest

South African Nicky Oppenheimer is ending his family’s century-old tie to the diamond industry. In November he decided to sell his 40% stake in DeBeers, the world’s leading diamond company, to Anglo American for $5.1 billion, calling it a “momentous and difficult decision.” DeBeers struggled through the recession, but sales and earnings rebounded in 2010. The family, longtime members of the FORBES World’s Billionaires list, has deep ties to Anglo American, a mining giant founded by Nicky’s grandfather Ernest in 1917. Based on the current deal, Nicky’s net worth is estimated at $6.5 billion. That is slightly lower than our $7 billion estimate from March this year, when he ranked No. 136 in the world and No. 2 in Africa. Only Aliko Dangote of Nigeria was–and still is–richer. For a ranking of Africa’s Top 40, go to www.forbes.com/africa.

Runs Orascom Construction, Egypt’s most valuable listed company. Its shares have been volatile since Arab Spring protests in February. He has partnered with Brazil’s Eike Batista to build a fertilizer plant in Brazil.

21. Theophilus Danjuma

$600 MILLION

NIGERIA

OIL

Former Nigerian defense minister chairs oil exploration firm South Atlantic Petroleum, which in 2006 sold a 45% interest in a Nigerian oil block to CNOOC, China’s national offshore oil company, for $1.75 billion.